The Editors Guild of India on Monday expressed deep concern over the raids conducted by the Central Bureau of Investigation (CBI) at the residence of NDTV co-founder and executive co-chairperson Prannoy Roy. The Editors Guild in its statement said, “Entry of police and other agencies into the media offices is a serious matter.”

Maintaining that “no individual or institution is above the law, the Editors Guild condemned “any attempt to muzzle the media and called upon the CBI to follow the due process of law and ensure that there is no interference in the free functioning of news operations.”

CBI conducted raids at Roy’s residence for allegedly causing a loss of Rs 48 crore to ICICI Bank on a loan of Rs 350 crore between 2008-10. The agency accused the NDTV’s promoter, Radhika, private company RRPR Holding Pvt Ltd and officials of ICICI Bank of allegedly concealing share transaction from the SEBI, stock exchange and Ministry of Information and Broadcasting.

NDTV, in a statement, said that the raids were a “blatant attack on the freedom of the press,” and the CBI had filed its FIR based on a “shoddy complaint” by a “disgnruntled” former NDTV consultant who has not obtained a “single order from the courts.”